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��14�5�37
<br /> � �EED �F TRUST
<br /> Laan Na: ��7�78�95 ��ont[nued� Pag� 4
<br /> mak� proof af Ivss �f Trust�� fiai[s �o do sa wi�hin fifteen �15y days af the casualty. Whe�her or nflt Lender's
<br /> s��urity is impaired,.Lender may. at Lender's electian, re�eiWe and re�ain the praceeds vf any insurance and apply
<br /> the pro��eds �o �he �educ�ion �f the Indebtedn�ss. paymen� o� any lien affiecting the Properfiy, or th� resto�ation
<br /> and repair of the Prap�rty. Ifi Lender elects to apply th� proceeds �v restara�ion and repair, Trustar shall repair ar
<br /> r�plac� th� damag�d �r destroy�d Impro�emen�s in a manner sa�isfactory �o Lender, L�nder shall. upan
<br /> satisfa�fiory prvof of such expendituref pay or reimburse Trust�r from �he proceeds �far the reas�nable cvst of
<br /> r�pair or restoration if Trustor is nvt in defauf� under �his Deed of Trusfi. Any pr�ceeds which haWe nat been
<br /> disbursed within �84 days aft�r their receipt and which L�nder has no� c�mmitted to the repair or restvratian of
<br /> the Property shall be used first ta pay any amount �wing to Lender und�r this De�d ofi Trust, then �o pay accrued
<br /> in�erest, and the remainder� i# any. shall be applied �o ths principa! balance ❑f the fndebt�dness. �f Lender hvlds
<br /> any proceeds after paym�nt in full �f th� Inde�tedness, such praceeds shall be paid t❑ Trustor as Trustor's
<br /> interests may appear,
<br /> C�mplianc� w�th Exis�ing Indebtedness. ❑ur�n� the period in whi�h any Existing [nd�btedness described below is
<br /> in ef�ect, campliance ►nrith �he insurance pro�isions c�ntained in the instrument evidencing such Existin�
<br /> Indebtedn�ss shall constitute compiiance w�th the insurance prvvisivns under this Deed of Trust, to the �xt�nt
<br /> complianGe v►rifh the terms �f this De�d of Trust would cansfitute a duplication �� insurance r�quirement. If any
<br /> pro�eeds from the insuranGe become paya��e on foss, the pro�isions in this Deed �fi Trust�or division �f proceeds
<br /> shall app�y only t�that portion of the prviceeds not payable to the holder af the Existing Indebt�dness.
<br /> Trustor's Repor�vn insurance. Upon re�uest of Lender, hQwe�er not more than once a year� Trustor sha�l furnish
<br /> ta Lend�r a report an each �xisting policy o� insurance shawing: �1 y the name at the insurer; �23 th� risks
<br /> insured; {3} #he amount of the polE�y; {4� the praperty insured. fihe then curren�t replacement �alu� af such
<br /> property, and th� manner of determining tha��alue; and �5y the expira�ion date af the pol�cy. Trustor shall. upon
<br /> request of Lender, have an ind�pend�nt appraiser satisfa�tory to Lender de�ermine the cash value replacernent c�st
<br /> of the Prop�rty.
<br /> LENDER'S EXPENDITURES. �f any action or proceeding is commenced that wauld material[y a�ffect Lender's in�erest in
<br /> the Pr�perty vr if Trustor �Fails tv �omply with any provision of this aeed of Trust or any Related Do�uments, including
<br /> but n�t limi�ed to Trustor's failure �❑ comply with any vbliga�ion to maintain Existing Indebt�dness in good standing as
<br /> r�quired below, ar ta discharge or pay when due any amounts Trustvr is required ta discharge or pay under th�s D�ed o�
<br /> Trust or any Related ❑acuments, Lender on Trustor`s behalf may �bu� shall no� be abfEgated to� take any action that
<br /> Lender deems appr�priate, inciuding but na� limited �o discharging nr paying all �axes, li�ns. security interests,
<br /> �n�umbrances and ath�r claims, at any time levied or placed vn the Praper�y and paying all cvsts �vr insuring,
<br /> main�aining and preserv�ng the Praperty. All such �xpend�tur�s incurred or paid by Lender f�r such purposes v►rill �then
<br /> bear interest at�he rate charged under the fVvte from �he date incurred ar paid b�y Lender t� the da�e o� repayment hy
<br /> Trustor. A�I such expenses will b�come a part of the Ind�btedness and, at Lender's op�i�n, wilE �Ay be payable vn
<br /> demand; �B} b� added to the balan�e �f the Nate and be appor�ioned amvn� and be payable with any ins�tal�ment
<br /> paymen�s to become due during eith�r [�} �he term af any applicable insurance p�licy; vr ��] the remaining term of
<br /> the Note; or tC� be treated as a balloon payment which will be due and payabEe at�he Nofie's ma�urity. The Deed of
<br /> Trust also will secure payment a�r these amvunts. 5u�h right shal� be in addition to all ��her rights and remedies to
<br /> which L�nder may be enfii�led upan DefauEt.
<br /> WARRANTY; DEFENSE QF T1TLE. Tha f�l�awing prvvisions relating to ownership ofi the Proper�y are a part o�this Deed
<br /> �f Trus�:
<br /> Title, Trustor warran�s that: �a� Trustor holds gaod and marketable ti�le of recvrd to �he Property in fee simple,
<br /> free and clear o�F al� �iens and en�umbrances �ther �han th�se se� f�rth in �he Real Property description or in the
<br /> E�cistin� lnd��tedn�ss section belaw ar in any��tle �nsurance poficy, tit�e repvrfi, or final�itle ❑pinion issued in favor
<br /> of, and accep�ed hy, Lender �n connectian with this Deed of Trust, and {b� Trustor has the full right, pov►rer, and
<br /> authority to execu�e and de�i�er this Deed of Trus�tv Lender.
<br /> De�ense af Tit1e. Subject t� the exception in the paragraph aba�e� Trustor warrants and will forev�r defend �he
<br /> title t� th� Pr�perty against the lawfu! claims of all persans. In the e��nt any aGtson or proceeding is ��mmence�
<br /> that�uestions Trusfvr's�i�le or the interes�of Trustee or Lender und��this Deed v�f Trust, Trusfiflr shall d��end the
<br /> action at TrustQr's expense. Trustor may be the nomina� party in such proceeding, but Len�er shall be enti�ied �o
<br /> particEpate in the pro�eed�ng and �o be represented in �h� pr�ceedEng by c�unsel of Lender's own choice. and
<br /> Trustor will deli�er, �r cause to be de[ivered, to Lend�r such ins�rumen�s as Lender may r�quest from time to time
<br /> ta permi�such participation.
<br /> Compliance INith Laws. Trust�r warrants tha� the Prap�rty and Trustar's use afi the Property complies wi�h a[I
<br /> existin� appli�able laws, ardinan�es, and regulatians of gv�ernmental authorities.
<br /> Sur��val af Representatians and V1larranties. All represenfiatinns, warranties, and agreements made by Trustar in
<br /> this ❑�e� af Trust shall survi�e th� �xecution and delive�y of this Deed ��Trust, shall be c�ntinuing in nature, and
<br /> shall rsmain in�ul!force and e�f�#ect until such time as Borro►rver's Indebt�dness sha[I be paid in fu[I.
<br /> EX[STING INDEBTEDNESS, The t�llowing provisions concerning Existing lnde��edness are a part�f this Deed�f Trust:
<br /> Exis#ing Lien. The lien �f this Deed of Trust securing the Indebte�lness may be secondary and in�eriar to an
<br /> �xisting lien. Trustar expressly cov�nan�s and agrees to pay, ❑r see to the payment o�F� the Exis�ing Indebtedness
<br /> and to prevent any defaulf on such indebt�dness, any default under�he instruments e�idencing su�h indebfedness,
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